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Technology Stocks : Open Text

OTEX 34.32

-1.4%

10:50 AM EST

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To: Brian Fuller who wrote (515)	5/12/1997 10:27:00 AM
From: David MacLachlan	of 1195

While there is no way to know for sure, do any of the technical analysis types have a view on the resistance that the stock will\has met due to the fact that it has been so underwater from the IPO price for so long. That is, if I bought at 15, 16, etc. and saw it drop to below 5 last Fall, would I (and alot of others) love to get 9, 10, 11, etc. and thereby keep the price low until the system was "flushed" from these initial buyers? This stock just loves to hang around $8. Any thoughts anyone?

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